Financial Markets and Institutions

This course aims to help students develop a solid understanding of the basics of financial markets and institutions and provide useful economics background in formulating financial sector regulations.
To this end, the course will cover key theoretical concepts (e.g. inter-temporal substitutions, financial intermediation, direct vs indirect finance, asymmetric information, moral hazard and principal-agent problem) and discuss several applications and practical issues. [Please note that this course will NOT focus on central banking and monetary policy.]

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授業計画

The details of the schedule will be provided on the first day of the course. Preliminary plan of lectures (subject to change): 1. Orientation 2. Overview of the financial system 3. Interest rates and present value 4-5. Bond market 6-7. Stock market 8. Financial Institution 9. Theories of banking 10. Financial crises 11. Financial sector regulations 12. The other topic

授業の方法

Lectures delivered in English

成績評価方法

TBA

教科書

TBA

参考書

TBA

履修上の注意

Both MPP/IP and non-MPP/IP students are welcome to this English-taught course. Students who intend to register for the course are strongly encouraged to attend the first class of the course, where a detailed course plan and instructions will be provided. The course is designed for students interested in public policy issues relevant to financial systems. Prior knowledge of the subject and related areas would be helpful, but not required. Basic knowledge of microeconomics, law (i.e. financial, corporate and bankruptcy laws) and financial accounting standards would be of help. Some of the course contents will rely on mathematical methods such as basic calculus and statistics.